The purpose of this research study is to determine if the study drug, bucindolol, a type of beta blocker, will improve the survival of patients with heart failure. A new treatment of congestive heart failure has been the addition of a class of medications known as beta blockers. These medications have traditionally been used to treat heart pain (angina pectoris), high blood pressure (hypertension) and fast heart rhythms. Recent studies have shown that these medications can improve the pumping function of the heart and may reduce the symptoms of congestive heart failure. However, the evidence that these medications prolong life is not conclusive. Carvedilol, another beta blocking drug, has recently been approved for the treatment of mild to moderate heart failure. This drug is similar to the drug being studied in this study. The FDA has approved carvedilol for slowing the progression of heart failure. This was based on several studies which showed that compared to placebo (nonactive drug or "sugar" pill), carvedilol reduced the chance of having one or more of the following: being admitted to hospital, dying, or needing higher doses of other heart failure medications. However, the FDA did not approve carvedilol specifically for reducing the probability of dying (reducing mortality). In other words, the reason for approval was a favorable effect on one or more clinical outcomes.